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7447 E Norwood Street Mesa, AZ 85207

3 Beds 2 Baths 1,999 sqft Built 2002

$425,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $212.61
  • 2 Days on Market
  • MLS # : 6170754
  • Updated Date : 12/12/2020 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,999 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

3 Bedrooms plus Den/Office. Excellent layout in the kitchen for the gourmet chef! Corian counter tops, raised panel spice maple cabinets w/stepped uppers, Black appliances are included! Built in microwave & oven, flat cook top. Open kitchen floor plan design flows to dining and living room right out to the patio! Perfect setup for indoor or outdoor entertaining! The master suite has separate shower, double sinks, and a big soaking tub! The back yard is all ready for your bbq's! A tandem 3 car garage gives you room for all your toys! Along with all the amenities of the Las Sendas community -featuring an award winning schools, Robert Trent Jones Jr golf course, tennis and pickleball courts, bocce ball, multiple parks, two community pools, and miles of hiking and biking trails.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greyfox

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k390k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Greyfox

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Fremont Junior High School High Regular 976 48 7

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Fremont Junior High School

  • Education Level: High
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,568
Property Tax -$221
Property Insurance -$66
HOA -$40
Property Management Fees -$99
CASH FLOW
$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$425,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$37,502

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,070

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,969

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7953$2,0004$2,0705$2,200
$2,200
RENT COMPS ANALYSIS
  • 7447 E Norwood Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.04
    •  
  • 7255 E Northridge Street Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.93
    •  
  • 7218 E Northridge Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,856 Sqft ∙ Built 2003
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 2931 N Augustine -- Mesa, AZ 3
    • 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,091 Sqft ∙ Built 2019
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 7360 E Norwood Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2001
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kathleen M. Moum
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170754
Last Updated: 12/12/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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